From the proud history of the Indian kingdom to now, gold is part of Indian culture. In India, gold is continuously purchased, and the demand for gold in the country increasing noticeably. In the fourth most populated country, West Bengal deals are never short of supply to meet the never-ending demand. 22ct gold means standard gold. It is 91% pure with a mixture of copper, silver and other metals. Check 22 carat Gold Price Today And Details About Gold Price Movements below.
Today’s Gold Rate Is— Rs. 3716 Per Gram
From 26th August 2019, the gold price is the same ( for 1 to 8 grams). Today the price of 100-gram gold decreased by 6.95%
Read More – Pamper Yourself With Jewellery At The Low Silver Rate Today!
Last 10-Day Interest Rate Of Standard Gold—22ct
|Date||1 gram||8 gram|
|23 Nov, 19||Rs. 3716||Rs. 29,731|
|22 Nov, 19||Rs. 3716||Rs. 29,731|
|21 Nov, 19||Rs. 3716||Rs. 29,731|
|20 Nov, 19||Rs. 3716||Rs. 29,731|
|19 Nov, 19||Rs. 3716||Rs. 29,731|
|18 Nov, 19||Rs. 3716||Rs. 29,731|
|17 Nov, 19||Rs. 3716||Rs. 29,731|
|16 Nov, 19||Rs. 3716||Rs. 29,731|
|15 Nov, 19||Rs. 3716||Rs. 29,731|
|14 Nov, 19||Rs. 3716||Rs. 29,731|
Factors Affect The Gold Price:
India is the largest consumer in gold. Up down of gold rates depends on its international market. So the movement of gold prices in the global market has a massive blow on the prices in India. Here are some essential factors that determine the gold price.
- Inflation: Gold is a more steady character than currency. This is the reason why investors want to hold the gold instead of currency. So when inflation is increasing, the gold price also increases.
- Global Movement: We all know India is the largest consumer of gold. So naturally, when the gold importation price of India changes due to the global movement, it reflects the gold prices at home.
- Political Upheaval: You may have noticed that the gold price noticeably rises during political chaos. Because during political unrest, currency and other financial products fall and gold demand increases.
- Government Reserves for Gold: Cash flow in the market increases when the supply of gold goes down, and the gold price in the market goes up. Then the downward movement of gold supply occurs.
- Jewellery Market: Gold is one of the most cherished metals in India. Indians love to wear gold jewellery in every occasion. No matter there are birthdays or festivals; gold jewellery has a special set in the households of Indian.
The movement of gold prices in the jewellery market entirely depends on consumer demand. As an example, during the wedding season, the cost of gold goes high due to the high demand of customers.
- Interest Rate: Do you know the current gold rates are a good indicator of interest rate trends of a country?
The selling gold price increases when the interest rate is high and the lower interest rate means more cash in the hands of customers, and it leads to increased demand and price.
- Domestic Demand: Apart from jewellery, gold is needed by various electronic companies for manufacturing devices like television, computer, GPS, etc. On the other hand, Indian families gift gold to show the wealth of a family. All these make a combination of Domestic demand for gold. And as you know, increased demand leads to the high gold price.
Also, Check – Gold Price Today In Delhi
Gold rate experienced a good month in August due to factors like increased rate of purchase gold by central banks, weakening of the rupee against the dollar, increased demand of the metal, and market up down due to trade tension between the US and China.
22ct gold is more durable than 24ct pure gold, because if it’s a mixture. Only a high quantity of 22 carat gold price today increased. Otherwise, for the last few days, the gold price per gram is more or less the same.